In a move towards deeper institutional expansion into the Middle East, Animoca Brands has received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).
The Hong Kong-based digital asset firm announced that the license authorizes it to initiate operations in the Emirate of Dubai, excluding the Dubai International Financial Centre (DIFC). This license lets Animoca brands give virtual asset (VA) Broker-dealer services, VA management, and investment services to global institutional and qualified investors
The development places the Animoca brand to expand its presence across the Middle East, and makes the company’s regulatory standing as the world’s fastest-growing crypto hub.
VARA license strengthens institutional push
VARA, established in 2022 under Dubai Law No. 4, functions as the key regulatory body overseeing virtual asset activities throughout Dubai. It is recognized as the world’s first independent authority dedicated exclusively to virtual assets.
By collecting the VASP license, Animoca Brands makes a place in the growing list of digital asset firms seeking regulatory clarity in the region. The approval enables the company to operate within a structured legal framework designed to protect investors and standardize virtual asset governance.
According to the company, the license will enhance its ability to engage with Web3 foundations and institutional players while delivering regulated digital asset services from Dubai.
“Receiving the VASP license from VARA is an important milestone for Animoca Brands’ operations, particularly in Dubai and the Middle East,” said Omar Elassar, Managing Director for the Middle East and Head of Global Strategic Partnerships at Animoca Brands. He added that the approval reflects the company’s commitment to operating responsibly as digital asset markets mature.
Expanding beyond gaming and investments
In addition to developing Web3 infrastructure, the firm has investments in more than 600 digital asset projects worldwide.
It also operates digital asset platforms, such as the Sandbox, Moca, Network, and Open Campus. The Dubai license is a way bigger shift to regulated financial services.
The license also comes shortly after Animoca’s January acquisition of Somo, a gaming and digital-collectibles company that integrates playable and tradable assets into its ecosystem.
The deal underscores the company’s strategy of combining interactive Web3 experiences with regulated financial infrastructure, potentially creating new liquidity channels for its expanding portfolio.
